- A major ETH holder sold at a 58.6% loss, highlighting growing panic as indicators suggest sellers are finally losing momentum.
- Ethereum’s NetTakerVolume shows easing sell pressure since November 2024, hinting at a possible market bottom near the $1,800 level.
- With selling momentum fading and technicals aligning, Ethereum could be setting up for a bullish reversal toward its $5,000 target.
According to Lookonchain, an Ethereum whale recently offloaded 1,160 ETH worth $1.83 million, realizing a painful 58.6% loss. He originally withdrew the funds from OKX 11 months ago when ETH traded at $3,816, totaling $4.43 million. However, he sold back into OKX at $1,580, locking in a staggering $2.6 million loss. This capitulation event signals growing panic among holders. Yet, indicators reveal that selling momentum may finally be losing steam.
Sellers Are Losing Strength
Ethereum’s NetTakerVolume from February 2024 through April 2025 paints a telling picture. The metric tracks aggressive selling versus buying across exchanges. Consistently negative NetTakerVolume data points to persistent market sell pressure.
However, selling momentum has steadily declined since its peak in November 2024. During that time, the 30-day moving average of negative volume plunged below -500,000,000. Consequently, ETH’s price bottomed and began a slow recovery. Besides that, sellers have since struggled to maintain pressure. January through March 2025 reflected reduced sell-side intensity. This downtrend in volume suggests that the worst might be over.
Market Primed for Recovery
April 2025 shows ETH testing $1,800, yet NetTakerVolume remains subdued. This divergence indicates weakening bearish control. Additionally, annotations on the CryptoQuant confirm fading momentum. The phrase “Sellers are getting exhausted!” supports the view of a potential price floor forming.
Moreover, the MACD and RSI indicators on other markets echo this exhaustion trend. USD/JPY charts show similar volume spikes at key reversal points. MACD prints negative momentum, and RSI nears oversold conditions, currently at 33.95. This reflects broader market indecision and heightened caution. Hence, Ethereum might be nearing a turning point. Large sellers appear to be exiting, which could allow bulls to reclaim ground.
Ethereum Eyes $5,000 Ambition
Despite current weakness, optimism remains strong. Traders such as LordOfAlts emphasize their $5,000 ETH target for 2025. The repeated cyclical nature of price action and volume behavior supports this outlook. Every wave of extreme selling in the past preceded recovery. Hence, the latest capitulation may represent a final flush.Additionally, support at $1,800 aligns with historical bounce zones. If sell pressure continues to fade, ETH could begin building toward a breakout.
